HomeMy Public PortalAbout10) 7G Appt PARS Plan AdministratorCity Council
September 4, 2012
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retirement plans hold retirement contributions in Trust on behalf of the employees.
CONCLUSION:
Since the position of Senior Administrative Assistant no longer exists and the City is
required to have a Plan Administrator of the PARS Trust for ongoing administration
activities, appointment of a successor Plan Administrator is necessary.
FISCAL IMPACT:
There is no fiscal impact to the FY 2012-13 City Budget.
ATTACHMENTS:
A. Resolution 12-4851
Attachment "A"
RESOLUTION NO. 12-4851
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF THE CITY OF
TEMPLE CITY APPOINTING A PUBLIC AGENCY RETIREMENT
SYSTEM PLAN ADMINISTRATOR
WHEREAS, the City of Temple City is a member of the Public Agency Retirement
System (PARS), a governmental trust, for the purpose of providing tax qualified retirement
benefits; and
WHEREAS, the City has made available the following retirement plans: the City of
Temple City PARS Alternative Retirement System and the PARS Benefits Trust FBO City of
Temple City Section 457 Trust Alternative Retirement Plan; and
WHEREAS, on. October 7, 1997, the appointment the position of the Senior
Management Assistant to act as the Plan Administrator of the PARS Benefits Trust FBO City of
Temple City Section 457 Trust Alternative Retirement Plan; and on November 18, 1997, the City
Senior Management Assistant to act as Plan Administrator of the City of Temple City PARS
Alternative Retirement System; and
WHEREAS, the aforementioned position/title no longer exists and the City desire to
appoint a Plan Administrator for the ongoing administration of the City of Temple City PARS
Alternative Retirement System and the PARS Benefits Trust FBO City of Temple City Section
457 Trust Alternative Retirement Plan.
NOW, THEREFORE, BE IT RESOLVED THAT:
1. The City Council hereby appoints the Administrative Services Director his
successor as the City's Plan Administrator for the City of Temple City PARS Alternative
Retirement System and the PARS Benefits Trust FBO City of Temple City Section 457 Trust
Alternative Retirement Plan; and
2. The City's Plan Administrator is hereby authorized to execute the PARS legal
documents on behalf of the City and to take whatever additional actions are necessary to
maintain the City's participation in PARS and to maintain PARS compliance of any relevant
regulation issued or as may be issued; therefore, authorizing her to take whatever additional
actions are required to administer the City's PARS plans
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Vincent Yu, Mayor
ATTEST:
Peggy Kuo, City Clerk
APPROVED AS TO FORM:
Eric S. Vail, City Attorney
PASSED AND ADOPTED this 4th day of September, 2012, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
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